ABB has agreed to acquire the shipping business of DTN Europe BV and DTN Philippines Inc. (hereinafter DTN Shipping), expanding the company’s offering in maritime software.
The acquisition of the DTN Shipping portfolio covers vessel routing software, including analytics, reporting, and modelling applications.
Financial details of the transaction were not disclosed. The transaction is subject to customary closing conditions as well as completion of applicable works councils’ consultation procedures, and it is expected to close during Q2 2024.
Complementing ABB’s existing digital offering, the DTN Shipping business brings market-leading application programming interfaces (API) to ABB and expands the number of vessels connected to ABB networks to over 5,000.
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ABB and DTN Shipping will work together to ensure continuous customer service and the seamless integration of approximately 85 employees, most of whom are located in the Netherlands and Philippines, into ABB.
Current customers of DTN Shipping will reportedly benefit from ABB’s expertise in electric, automated, and digital marine solutions, securing more opportunities to gain efficiencies, save fuel and cut emissions.
“We look forward to welcoming our new colleagues to the ABB family,” said Juha Koskela, Division President, ABB Marine & Ports.
“With DTN Shipping’s unique weather routing solutions, combined with our existing digital portfolio, we can bring significant benefits for ship owners and operators worldwide. This is integral to our commitment to deploy digital solutions for the purpose of driving better operational decisions, resulting in increasingly sustainable performance of vessels.
“With this acquisition, we can now offer all levels of digitalisation, across all fleet types and sizes, creating a unique offering in vessel and voyage performance.”
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Marc Chesover, President and CEO of DTN, said: “Innovation is by nature collaborative. This is an important moment in the advancement of digital solutions for the maritime industry.
“We are proud of what the Shipping team has accomplished at DTN and are confident that the industry will see great value from the expanded ABB offerings that are possible when combined with the DTN Shipping portfolio. DTN looks forward to continuing to provide core forecasting elements to ABB post completion.”
